Softing AG — Earnings Release 2004

Aug 3, 2004

News Details

Ad-hoc | 3 August 2004 07:55

Softing concludes first half-year on a positive note

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Softing concludes first half-year on a positive note The Softing Group continued to achieve improvements in terms of incoming orders, sales revenue and earnings. In the second quarter, Softing recorded global sales of EUR 4.8 million (2003: EUR 4.6 million). This brings the Group’s sales revenue for the first half-year to EUR 9.6 million (2003: EUR 9.4 million). Softing’s operating loss in the second quarter came in at EUR 52 thousand (2003: EUR 0.6 million). In the first two quarters of the current fiscal year, Softing recorded an operating profit of EUR 38 thousand (2003: operating loss of EUR 0.7 million). The consistent improvement of the company’s cost structure, coupled with increased sales, is making a significant impact. Softing also recorded a small net income of EUR 6 thousand (2003: net loss of EUR 0.5 million) in what continued to be a difficult overall economic situation in Germany and Europe. At EUR 4.5 million, the incoming orders in the Softing Group in the second quarter of 2004 were at previous year’s level; they totaled EUR 9.8 million overall in the first half-year (2003: EUR 9.3 million). This represents an increase of more than 5 percent. Cash and cash equivalents as of June 30, 2004 amounted to EUR 5.1 million, which was on par with the previous year’s figure. Compared to the first quarter of 2004, cash and cash equivalents decreased by EUR 0.7 million, which is primarily due to the reduction of long-term liabilities. At the end of the second quarter of 2004, the Group’s equity was EUR 11.9 million. This translates to EUR 2.38 per Softing share based on the current share price of approximately EUR 2.20. The Quarterly Report 2/2004 can be downloaded in pdf format from the Investor Relations section at http://www.softing.com from August 13, 2004. end of ad-hoc-announcement (c)DGAP 03.08.2004 ——————————————————————————– WKN: 517800; ISIN: DE0005178008; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 030755 Aug 04